Japan/Asia Long-Short, LightStream Research

Mio Kato

Over 15 years analysing Japanese and Asian stocks from a long/short perspective

I focus on cyclically driven sectors such as Gaming, Factory Automation and Autos

An eclectic background as a long-short analyst, upper management at a financial data startup through its listing, and as the founder of a team analysing big/alternative data, all of which supports independent and differentiated views... we hope

An appreciation for Mathematics drives the development of a "Micro-Quantamental" process which can provide a data-driven, historically-informed and semi-automated foundation upon which to layer more qualitative and judgemental analysis, thus improving investment decision-making speed and accuracy

Japan/Asia Long-Short

Fanuc: A Look at Valuation Post Strong 3Q

Metrocirc Production Issues Open Buying Opportunity

Increasingly Positive on Robots and Inverters, Hoping for a Servomotor Hiccup to Buy on a Dip

Yaskawa: Still Like the LT Prospects but It's Finally Time to Exit (For Now)

Fanuc: 1Q Could Be Peak of Good News with Earnings Falling in 2H

If You Like Robotics but Find Current Conditions Frothy, Nabtesco Is a Great, Not Good, Compromise

Initiating Coverage of Nabtesco With JPY 3,900 FVE and Wide Moat Rating

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<p>Fanuc reported relatively strong 2Q numbers yesterday with revenue of JPY179bn and OP of JPY56.9bn, keeping OPM above 30% for the second quarter in a row. While the results were decent and in conjunction with an upgrade from a brokerage house, drove the stock up as much as 6.7% today, buying appetite has petered through the day and the stock is now up only 0.7%, with good reason, because while backward-looking results were positive, this is largely due to consensus being too low and there was…</p>

Fanuc reported relatively strong 2Q numbers yesterday with revenue of JPY179bn and OP of JPY56.9bn, keeping OPM above 30% for the second quarter in a row. While the results were decent and in conjunction with an upgrade from a brokerage house, drove the stock up as much as 6.7% today, buying appetite has petered through the day and the stock is now up only 0.7%, with good reason, because while backward-looking results were positive, this is largely due to consensus being too low and there was…

Fanuc: Orders Peaked in 1Q, Sector Share Prices Weak, This Could Be the Top

Fanuc Corp

Fanuc: Orders Peaked in 1Q, Sector Share Prices Weak, This Could Be the Top